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  • Writer's pictureShivkumar

16th May - Crypto Price Analysis

(By Shivkumar)



  • Bitcoin for the past three days reached a high of $9,941.68 on May 14, unable to break resistance near $ 10,000 as the bears were unwilling to allow the bulls.

  • Bulls continue to buy the dips, which is a positive sign and suggest bulls having upper hand.

  • The pair can consolidate between $9,200-$10,000 levels for a few days and might rally toward $ 10,600.

  • Bearish below below $9,200 and can fall to $ 8851.

  • There will be change in trend break below $8,130.58. 

  • Traders watch out bearish divergence in RSI.


  • Bullish above $ 196 a rally to $227.097 is possible and could present a buying opportunity for traders.

  • Bearish below $ 196 and a drop to $176.103 is likely.

  • Below $ 176 there will be change in trend after a break in level.


  • Bearish if price turns down from the current levels and breaks below $ 0.19 , a drop to $0.17372 is likely.

  • Bullish above $ 0.20 a rally to $0.23612 is likely.

  • Traders can wait on the sidelines until the bulls are back in command. 


  • Bitcoin Cash facing resistance at $243 and price turns down from this level, the bears will attempt to sink the price to $200. 

  • Bullish above the $ 243 and rally to $280.47.

  • Trend can be decided on a breakout of $280.47 or on a break below $200.

  • The pair is likely to remain range-bound for few days.


Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update || Facebook :- ||Instagram :- ||Twitter|| Whats App :- +91-70439-12326

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